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8 Signs That Say You Are Ready For A Long-term Lease

by on | Categories: Condo Advice and Tips, Renting

How many times have you changed residence over the past five years? Believe it or not, there are people who have had several addresses in a short period of time. It may be due to work relocation, change in income level or a new chapter in life. If your career entails moving from one city, or country, to another, you should be able to “fit your life in a suitcase.” After a job promotion and the corresponding salary, moving to a larger space seems quite appealing. Settling down for good? You may need to give up your studio pad for a two-bedroom home. A condo for rent in the Philippines suits both mobile and “settled” lifestyle primarily for its accessibility. A condo community is strategically located near transport networks, offices, schools and, commercial hubs. You get the best of the city without compromising comfort.

A more stable job assignment or salary increase is just part of the decision-making process. There are other factors you should consider before signing a long-term condo for lease contract. Take note of these 8 signs.

Your income can sustain a comfortable life

guy comfortable computer

How long is “long-term” in terms of renting in the Philippines? Whether you’re leasing a room, apartment or condo, long-term rental agreement is for a period of six (6) months, subject to renewal. That’s the general rule. The parties may agree on a longer period.

One of the signs you’re ready for a long term rental agreement is when your income can sustain your lifestyle throughout the lease. Remember that it’s not just the rent you’ll be spending on. You have basic necessities, utilities, association dues, etc. You can’t live in a nice condo yet sacrifice your grocery allowance. No one can live on instant ramen alone.

You are ready to commit

talking regarding contract

Six months may be a short time for some people, but it is an eternity for others. A steady income to support a comfortable lifestyle isn’t enough for a long-term condo leasing. You should be able to commit to the term.

If you’re still waiting for a job offer in another city or country, or undecided about permanently leaving your family home, you may need a shorter lease agreement. Ask yourself: Am I ready to settle in a particular home for at least six months?

You are prepared to compromise

handshake for compromise

A lease contract is a set of rules prepared by a lessor (landlord) which the lessee (tenant) adheres to. Either party may ask to revise the stipulations, with the consent of the other. However, there are things that you should be ready to concede to such as the purpose of the lease, safety guidelines and prohibition against sub-leasing.

In a condo community, lease contracts should comply with condo rules and regulations. One example is keeping domestic animals. The condo may limit the number of pets you can keep in your home. You should be prepared to compromise before signing a long-term lease contract.

Your job involves a more permanent or stable work assignment

If your boss sends you to different work sites within Metro Manila, it’s feasible to keep the same residence for at least six months at a time. It’s a different story if you’re being sent to provinces or countries wherein you stay for months on end.

You’re ready for a long-term rental agreement if your job ensures a more stable work assignment, at least for the duration of the lease term.

You’re entering a new phase in your life

married life new phase in life

A short-term lease for a studio flat is ideal for the single you. It’s perfectly suits your “come-and-go” lifestyle. But as you find more stability in your life, your preferences in rental accommodation also change.

Are you starting your own family soon? You should consider a long-term lease contract. Remember that nearly all your life decisions would require your partner’s approval. It’s now a bicameral system. If your job keeps you from maintaining a permanent residence, your new civil status definitely would. Moreover, with kids joining the crew soon, a permanent home will give them a sense of stability.

You’re longing for a more comfortable home

comfortable home

Have you been collecting interior design pins on Pinterest? Are you longing to ditch your plastic chairs for handsome wooden furniture? These may be tale-tell signs that you’re ready for a long-term rent agreement.

When you’re moving from one dorm to another, you’re obliged to keep your belongings to a minimum. Moving a furniture set isn’t just troublesome, it can risk damage to the pieces. You don’t want to sleep in a foldable cot anymore nor eat on a sad stainless steel table. You want home items that denote permanence.

You want to slow down

Moving from one residence to another like a wanderer can be exhausting. It’s more than the hassles of relocation. You meet new friends and build new relations only to leave them behind. Being in different places is good for your growth, but at some point, you’d want to stop moving around and settle in one space. Slow down.

You’re getting older

A nomad lifestyle is often associated with youth. There’s a yearning to embrace new experiences, meet new acquaintances and being able to leave anytime. “Go where your heart (and feet) takes you,” was your mantra after you left college. But you grow older and your priorities change. As you approach your 30s, you seek stability in your career and relationships. That doesn’t mean that you’re getting tired of exploring, you’re simply maturing. You’re ready for a home with a long-term rental agreement.

You have a stable income that can sustain a comfortable lifestyle. Your career is secure and you’re ready to move to a new chapter in your life. After years of changing addresses, you’re now seeking a sense of permanence. Stability has become more important than the exhilaration of moving around. You’re ready for a long-term condo for rent in Metro Manila.

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